President Bola Tinubu has directed that rollout of the free healthcare access initiative for low-income retirees under the Contributory Pension Scheme, CPS, should begin without further delay, describing it as a critical component of social protection and dignity in retirement.
The President gave the directives after receiving a briefing from the Director General, National Pension Commission, PenCom, Ms Omolola Oloworaran in Abuja.
In a Statement by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, the President also called for the prompt implementation of long-overdue pension increases and a minimum pension guarantee, which would provide a safety net for the most vulnerable pensioners under the Scheme.
President Tinubu further mandated the PenCom Director General to quickly resolve the longstanding Police pension issue, stressing that members of the Nigeria Police who serve and protect the nation deserve to retire with dignity and peace of mind.
Meanwhile, Ms Oloworaran also briefed the President on her ongoing efforts to ensure the value preservation of pension fund assets, especially in the face of inflation and macroeconomic pressures, as well as plans to introduce foreign currency contributions to enable Nigerians in the diaspora to participate in the pension system.
President Tinubu strongly supported the reforms, reaffirming his administration’s commitment to inclusive growth and protection for ordinary Nigerians.
The Statement indicates that, during the briefing, the PenCom Director General updated the President on a suite of transformative pension initiatives to enhance retiree welfare and expand the Pension Scheme’s reach.